Synopses & Reviews
PRINCIPLES OF MACROECONOMICS continues to be the most popular and widely used text in economics classrooms today. The fifth edition features a strong revision of content in all 36 chapters while maintaining the clear, accessible writing style and precise presentation that are the hallmark of this highly respected author. Dozens of new applications emphasize the real-world relevance of economics for today's students through interesting news articles, realistic case studies, and engaging problems. The new edition also features an expanded instructor's resource package designed to assist in course planning and classroom presentation, as well as full integration of content with Aplia. "I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy."--N. Gregory Mankiw.
With its clear and engaging writing style, PRINCIPLES OF MACROECONOMICS, 5E, continues to be one of the most popular books on economics available today. Mankiw emphasizes material that you're likely to find interesting about the economy (particularly if you're studying economics for the first time), including real-life scenarios, useful facts, and the many ways economic concepts play a role in the decisions you make every day.
About the Author
N. Gregory Mankiw is Professor of Economics at Harvard University. He has taught Macroeconomics, Microeconomics, Statistics, and Principles of Economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals such as the American Economic Review, Journal of Political Economy and Quarterly Journal of Economics; and in more widely accessible forums, such as The New York Times, The Washington Post, The Wall Street Journal and Fortune. In addition to his teaching, research, and writing, Professor Mankiw has been a Research Associate of the National Bureau of Economic Research, an Adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office and a member of the ETS Test Development Committee for the advanced placement exam in Economics. From 2003 to 2005 he served as Chairman of the President's Council of Economic Advisers.
Table of Contents
Part 1: INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. Appendix: Graphing: A Brief Review. 3. Interdependence and the Gains from Trade. Part 2: SUPPLY AND DEMAND I: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and Its Application. 6. Supply, Demand, and Government Policies. Part 3: SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets. 8. Application: The Costs of Taxation. 9. Application: International Trade. Part 4: THE ECONOMICS OF PUBLIC SECTOR. 10. Externalities. 11. Public Goods and Common Resources. 12. The Design of the Tax System. Part 5: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY. 13. The Costs of Production. 14. Firms in Competitive Markets. 15. Monopoly. 16. Monopolistic Competition. 17. Oligopoly. Part 6: THE ECONOMICS OF LABOR MARKETS. 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. Income Inequality and Poverty. Part 7: TOPICS FOR FURTHER STUDY. 21. The Theory of Consumer Choice. 22. Frontiers in Microeconomics. Part 8: THE DATA OF MACROECONOMICS. 23. Measuring a Nation's Income. 24. Measuring the Cost of Living. Part 9: THE REAL ECONOMY IN THE LONG RUN. 25. Production and Growth. 26. Saving, Investment, and the Financial System. 27. The Basic Tools of Finance. 28. Unemployment and Its Natural Rate. Part 10: MONEY AND PRICES IN THE LONG RUN. 29. The Monetary System. 30. Money Growth and Inflation. Part 11: THE MACROECONOMICS OF OPEN ECONOMIES. 31. Open-Economy Macroeconomics: Basic Concepts. 32. A Macroeconomic Theory of the Open Economy. Part 12: SHORT-RUN ECONOMIC FLUCTUATIONS. 33. Aggregate Demand and Aggregate Supply. 34. The Influence of Monetary and Fiscal Policy on Aggregate Demand. 35. The Short-Run Tradeoff between Inflation and Unemployment. Part 13: FINAL THOUGHTS. 36. Five Debates over Macroeconomic Policy.